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Nonwovens/​Converting

Ahlstrom terminates divestment of its Building & Wind business

Ahlstrom and Owens Corning have terminated the agreement following challenges associated with obtaining regulatory clearance in Germany.

28th July 2016

Innovation in Textiles
 |  Helsinki

Medical/Hygiene, Packaging, Interiors

Ahlstrom will continue to operate and develop the Building & Wind business unit as before and it will be reported as part of the Filtration & Performance segment.

In 2015, net sales of the Building & Wind business unit was EUR 83.5 million and the adjusted operating profit EUR 5.9 million. In January-March 2016, net sales amounted to EUR 23.5 million and the adjusted operating profit to EUR 2.1 million.

Unexpected challenges

"In 2015 we were approached by Owens Corning to acquire the Building & Wind business unit and engaged in exclusive negotiations with them. Following the unexpected challenges with the German competition authorities, and after careful consideration, we have decided to keep the business intact as part of the Ahlstrom portfolio of innovative fibre-based materials,” explained Marco Levi, President & CEO of Ahlstrom.  

“The performance of the Building & Wind business unit, as that of the entire Ahlstrom Group, has clearly improved since negotiations were initiated and the business is today contributing positively to our profitability and cash flow.”

“We are fully committed to serving our customers and reinforcing the unit's competitive position. The business will contribute to our strategic goals of adjusted operating profit margin above 8% by 2018 and maintaining gearing below 100%.”

Ahlstrom

Ahlstrom is a high performance fibre based materials company, partnering with leading businesses around the world. The company aims to grow with a product offering for clean and healthy environment.

Its materials are used in everyday applications such as filters, medical fabrics, life science and diagnostics, wall coverings and food packaging. The company’s 3,500 employees serve customers in 24 countries.

www.ahlstrom.com

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